465 Cambridge Street (Walgreen's Pharmacy) Update 07/26/16

Developer acquires Walgreen's in Allston's Union Square, on 2/3 acres of land, for $13.5 million

This past Friday (July 22nd, 2016), local developer Abraham Properties acquired two parcels in Allston's Union Square totaling approximately 2/3 acres for $13.5 million as recorded in the Suffolk County Registry of Deeds. A locus map of the parcels is posted above. A 10,264 square foot retail building occupied by Walgreen's Pharmacy stands on the parcels in addition to surface parking. Abraham Properties also secured a $7 million mortgage for the parcels on Friday through Eastern Bank. The parcels last sold in December 2010 for $9.36 million and in May 2008 for $3.6 million.

Abraham Properties is a developer and manager of residential and office buildings as well as shopping centers and also owns and operates a number of STOR/GARD self-service storage facilities. The following is the deed for Abraham Properties' acquisition of the Walgreen's Pharmacy site at 465 Cambridge Street in Allston's Union Square:


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